Puig set to launch IPO to raise 3 billion next week

Puig set to launch IPO to raise 3 billion next week

Puig, the Catalan cosmetics group, is preparing to launch its initial public offering (IPO) next week with the goal of raising up to 3,000 million euros in the market. The company aims to raise cash, provide liquidity to its shares, finance expansion plans, and become a listed company by the end of May.

Puig is finalizing the necessary documents for its debut on the stock market, with plans to publish its intention to float (ITF) this Monday to officially signal its intention to go public. The company has been holding informal meetings with potential investors in recent weeks to gauge market interest, and will soon begin formal conversations to prepare for the IPO.

JP Morgan and Goldman Sachs are serving as coordinating banks for the transaction, with legal matters being handled by Linklaters and Cuatrecasas. The company aims to raise between 2,000 and 3,000 million euros by selling around 25% of its capital through a combination of a share sale and a capital increase. This would value the Catalan company between 8,000 and 12,000 million.

Puig’s IPO is set to be one of the largest in the Spanish market, potentially surpassing previous debuts by other companies. Puig’s decision to go public contrasts with Astara, a subsidiary of the Bergé group, which recently canceled its IPO due to market conditions. Despite this, several companies including Tendam, Europastry, Hotelbeds, Volotea, Cirsa, and Calvera are also working towards debuting on the stock market.

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